Lanxess to buy Chemtura

3rd October 2016 | 0 Comments
 

On 29 September Lanxess announced plans to acquire US-based Chemtura Corporation, one of the major global providers of flame retardant and lubricant additives.

Under the terms of the two parties’ agreement, Chemtura shareholders will receive US$33.50 per share in cash for each outstanding share of common stock held, which represents an 18.9 per cent premium to the stock’s closing share price of $28.18 on 23 September 2016. The 2.4 billion euro transaction will be financed by Lanxess mainly through senior and hybrid bonds and is expected to close around mid-2017.

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